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Real Estate Glossary of Terms

Lock-in

A written agreement in which the lender guarantees a specified interest rate if a mortgage goes to closing within a set period of time. The lock-in also usually specifies the number of points to be paid at closing.

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Thayer D. Fairing, Licensed Real Estate Broker, License # BK3232450; 25 years of experience in the real estate profession.
He is a licensed Real Estate Broker, Licensed Mortgage Broker and Licensed Title Insurance Agent

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